The challenge of finding internal knowledge on specialized matters exists within any large organization. One way an organization can address this challenge is through an internal knowledge market, which usually is an IT-supported platform within an organization that matches knowledge seekers with knowledge sources and that includes social or material motivators to encourage information sharing. However, there have been challenges and complications in implementing internal marketplaces.
Based on an analysis of underlying economic theory, together with more than 5 implementations of numerous kinds of internal markets, the authors provide guidance on how best to design, launch and sustain internal knowledge markets. The writers advocate using societal and content incentives to encourage workers to engage in the knowledge market, but permitting the costs for knowledge to float. One approach is a "virtual currency"; for example, Infosys introduced a virtual currency called "knowledge currency units"in its Internal knowledge market; KCUs earned in the internal knowledge market can be redeemed for cash and prizes. The writers also advise that executives organizing an internal knowledge market seed the market with high-value content then subsidize community development of solutions that are further.
PUBLICATION DATE: January 01, 2011 PRODUCT #: SMR378-PDF-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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